MeasuringOrganizationInnovativeness Free Essays

Measuring innovation is an important issue, as business growth and profitability in the knowledge age depend on innovation. Continual acceleration in innovation will sustain revenue growth, which will then fuel more innovation. Therefore, sustainable growth requires sustainable innovation, which requires that innovation be institutionalized and its output made predictable. We will write a custom essay sample on MeasuringOrganizationInnovativeness or any similar topic only for you Order Now Sound policy analysis and decision-making also requires credible, timely and relevant measurements as well. Measuring innovation has been studied extensively by scholars and practitioners. There is even an merging â€Å"innovation economics† susceptible that explores the complex relationship between investments in innovation and financial outcomes. At the practitioner end, leading consultancies-?Boston Consulting Group, McKinney Company, and Bozo Allen Hamilton, to name just a few-?examine innovation and ways to nurture it within firms and other organizations. 3 Purpose of the study This study aims to provide an overview on how to measure/ assess innovation capability of an organization. The main objective is to enrich our understanding of the innovation process; with an intention to come up with n integrated, convenient, effective, and accurate measure for innovativeness in Egyptian CIT organizations. Our approach for the intended measure would be to focus on a few high impact dimensions, rather than attempting a shotgun approach along many dimensions at once, with significant implications for innovation portfolio strategy. 4 Why the need for Innovation measures (rational)? Assist companies in understanding their current innovation practices/ capabilities, and clarifies where the organization needs to focus to maximize innovation success. Assist TIES to tailor programs to address areas of weakness in order to enhance innovation process capabilities for Egyptian CIT organization as well as advocate policy makers with polices that promote the innovation. Identifies areas of strength to capitalize on, and identifies opportunities for increasing innovation. Assist TIES to identify and control the barriers that stifle creativity and innovation. Developing Firm-level Innovativeness Index for the sector companies. Benchmarking Egyptian organization with international top innovative companies. Spreading the awareness of the importance of innovation concept and fostering the innovation culture in the organization Methodology 1. Literature review on Innovation process models and measurement frameworks Diamond model Innovation Funnel Innovation Value Chain – VIC ( Hansen and Bikini’s Innovation Value Chain, 2007) OSLO Manual Innovation measurement Framework 2. Literature review for some innovation metrics/ innovation audit white papers/ working papers and grey literature. . Investigating some top firm-level innovation indexes, and their corresponding methodologies as well as reviewing different innovation audit/ management tools, studying different innovation dimensions of focus, and analysis techniques such as: I-Innocent Ion-Biz assessment Improve -Europe Minivan Innovation for Growth 4. Review Of some white paper s in innovation in developing countries. 6 Innovation definition According to the definition adopted by TIES, Innovation is ‘the introduction of a new product, service, or process through a certain business model into the marketplace, either by utilization or by centralization†. Hence, it encompasses: product innovation, service innovation, Process innovation, and business model innovation, and all contribute to strengthen the competitive advantage of a certain company. This definition respects the fact that innovation is a complex and multidimensional activity that cannot be measured directly or with a single indicator, and hence the need to have a composite measure that reflected the organization innovative capability for the purpose of benchmarking, diagnoses, and supporting building up innovation culture and practices in Egyptian CIT firms. Innovation Activities definition Innovation activities are all scientific, technological, organizational, financial and commercial Steps which actually, or are intended to, lead to the implementation of innovations. Some innovation activities are themselves innovative, others are not novel activities but are necessary for the implementation of innovations. Innovation activities also include RD that is not directly rel ated to the development of a specific in innovation (Oslo Manual Ever. 3) . Attributes of Innovation Before discussing innovation measurements, it would be of value to learn about the innovation attributes. Innovation has a number of attributes discussed in the literature (Stone et al. , 2008). The key attributes are summarized below: Attribute 1 . Innovation involves the combination of inputs in the creation of outputs. Something novel is created during innovation. Certain crucial inputs must be available for innovation to occur, and the exact nature of those inputs differs depending on the desired outputs and outcomes. How to cite MeasuringOrganizationInnovativeness, Papers